The Best of Kass

NEW YORK ( TheStreet) -- Doug Kass of Seabreeze Partners is known for his accurate stock market calls and keen insights into the economy, which he shares with RealMoney Pro readers in his daily trading diary.

I would construe the lack of big Black Friday sales at Apple as a thin reed but mildly positive indicator that demand is quite strong.

At the time of publication, Kass was long AAPL.

The World Keeps TurningOriginally published on Friday, Nov. 23 at 7:39 a.m. EST.

The data suggest a global economy in which growth has either stabilized or is slightly accelerating.

For those who had better things to do (and I hope it was all of you) and hadn't seen my posts on early Thursday morning, there was important economic data out of China and Europe on Wednesday evening and the following morning.

In China

There were positive data from China on Wednesday evening, suggesting that China's economic growth has bottomed and is mildly accelerating. To some degree, an improving economy in China underpins global economic activity. In response to the data release, China's equity market cut its decline and has risen further overnight.

The flash November HSBC manufacturing index for China was 50.4 vs. 49.5 in October. The current reading is the best in 13 months and signals that the government's manufacturing index to be released Nov. 30 should be above 50 for its second straight month. Other metrics as well point to an improving Chinese economy -- for instance, retail sales, industrial production and money supply growth have all accelerated year over year based on October data, and exports in October grew at their fastest pace in the last five months.